Akash Network Proposes Migration to Solana and End of Staking Rewards

The Akash Network has introduced proposal 346 to migrate its ecosystem from the Cosmos blockchain to Solana. The plan establishes the end of staking rewards currently funded by network inflation. The transition will occur in distinct phases to ensure asset security and a smooth marketplace shift.

The migration process involves creating a portal to convert legacy AKT tokens to the Solana SPL standard. The proposal separates the migration approval, the token launch, and the final shutdown of the original network. Current staking rewards will cease the moment the marketplace transition occurs.

Network validators will see their roles and earnings conclude 90 days after the old chain stops. The project intends for new AKT token issuance to be directed exclusively toward cloud provider incentives and the treasury. Details regarding new yield formulas remain subject to future announcements.

The timeline depends on the completion of technical audits for the migration portal and smart contracts. The operational flow for users includes processes for unbonding assets and converting them to the new standard. Project governance aims to balance the technological transition with the economic sustainability of the token.